Food and grocery delivery giant Swiggy is set to make its stock market debut next week with the launch of its initial public offering (IPO). Swiggy IPO is set to hit the Street on November 6 and the SoftBank-backed company plans to raise more than Rs 11,000 crore from the primary market.
Several prominent investors, including Norway’s sovereign wealth fund Norges and Fidelity, have reportedly placed bids worth more than $15 billion in the Swiggy IPO, 25 times the $605 million portion reserved for such investors.
Here are 10 key things to know about the Rs 11,000 cr public issue:
1). IPO Schedule of Swiggy IPO
Swiggy IPO is set to open for public subscription on Wednesday, November 6, and will close on Friday, November 8.
2). Price Band and Lot Size of Swiggy IPO
The price band for Swiggy’s IPO has been set between Rs 371 and Rs 390 per share, with a lot size fixed at 38 shares. Retail investors are required to apply for a minimum of one lot, which consists of 38 shares, or in multiples of 38 shares. This structure allows investors to participate in the IPO within the specified price range.
3). Grey Market Premium (GMP) of Swiggy IPO
Market observers report that unlisted shares of Swiggy are currently trading at a grey market premium (GMP) of Rs 19 above its issue price.
Also ReadSwiggy IPO Live: Check GMP, price band, subscription, allotment status, and other things
This premium suggests that the grey market is anticipating a listing gain of approximately 4.87% from the upcoming public issue.
4). llotment and Listing Date of Swiggy IPO
Shares of Swiggy are set to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on Wednesday, November 13. The allotment of shares is expected to be announced by November 12, ahead of the listing date.
5). Offer for Sale (OFS) Structure of Swiggy IPO
Swiggy’s IPO, valued at Rs 11,327.43 crore, comprises a fresh share sale of Rs 4,499 crore and an offer-for-sale (OFS) of up to 17.50 crore equity shares, totaling Rs 6,828.43 crore, by existing shareholders. This structure aims to raise substantial capital while providing an exit opportunity for current investors.
6). Reservation for Investor Categories in Swiggy IPO
In the Swiggy IPO,
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